Page 35 - Hollard Private Portfolio - Version 3.5

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Hollard Private Portfolio – Version 3.5 – 7 May 2024
Buildings
Accidental damage to fixed machinery
We will pay for sudden and unexpected damage to fixed machinery installed at your premises which is used for domestic
purposes only.
Check your policy schedule now to see if this limited cover is likely to be sufficient to cover the full replacement cost in
the event of loss or damage. If you feel that it is not enough, you may ask us for additional cover so that we can increase
the limit.
Accidental death
We will cover you for the amount shown in your policy schedule if you suffer an accidental bodily injury at your premises
and you die within 90 days as a direct result of your injuries.
○ An accidental bodily injury refers to an unforeseen physical injury caused by accidental, external and visible
means, and that happens unexpectedly and unintentionally at an identifiable time.
○ We will pay the accidental death benefit to the deceased person’s estate.
○ If the deceased person is a child, then we will pay the death benefit to the policyholder.
○ This benefit is not applicable if the policyholder is a juristic person.
Acts by tenants
Your insurance risk might be affected by the actions or failure to act of your tenants in the case where you rent out your
building. Because their actions are out of your control, we will cover you against loss or damage to your building when
their actions or failure to act would have resulted in your claim being rejected. This is on condition that:
○ You are not aware of their actions or failure to act.
○ You tell us as soon as you learn about it.
○ Their actions or failure to act were not malicious and they did not intentionally cause the loss or damage.
Examples of how this cover is applied:
○ If having an alarm system is a requirement on your policy, and your tenant does not tell you that the alarm
stopped working, we will cover a claim for damage to your building during a burglary, because their failure
to let you know of the broken alarm is out of your control.
○ If you tenant intentionally causes loss or damage by vandalising your property, we will still reject such a
claim.
○ If the claim is due to a leaking roof because the roof has not been maintained over time, then you will
not have cover under this benefit. As a landlord, the regular maintenance of the property remains your
responsibility as the landlord and in such an instance the General exclusions – Gradual deterioration in the
Understanding your policy, which refers to lack of maintenance, would apply.
Alternative accommodation or loss of rent
We will pay the following if your home is uninhabitable after a valid claim:
○ Alternative accommodation
If your home is not rented out, then we will cover the cost of alternative accommodation for you, your live-in
domestic employees and domestic pets.
– We will decide on the alternative accommodation by considering the rental amount that would be
reasonable to charge for a property of the same value and location as your home.
– We will pay the reasonable costs we have agreed to for temporary accommodation in a guest house or
hotel for not more than 14 days, while we arrange alternative accommodation.
○ Rental income
– If you rent out your home or part of it to tenants, then we will pay the loss of the actual rental income
that you would have earned. You must give us evidence of a rental agreement to prove your loss of
rental income.